Neurogene (NASDAQ:NGNE) Given New $180.00 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity cut its price target for Neurogene from $200 to $180 while keeping a "buy" rating, a significant outlier versus the MarketBeat consensus average target of $66.67.
• Shares traded at $21.07 (up 1.8%) with a market cap of $328 million, a 52‑week range of $6.88–$37.27, and the company remains unprofitable with negative earnings expected for the fiscal year.
• Insiders sold shares in mid‑March (including the CFO), trimming their holdings, while institutional investors now own about 52.37% of the company amid recent hedge fund buying activity.

Neurogene (NASDAQ:NGNE - Get Free Report) had its price objective reduced by equities research analysts at Canaccord Genuity Group from $200.00 to $180.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock.

NGNE has been the topic of a number of other research reports. Lifesci Capital assumed coverage on shares of Neurogene in a report on Monday, January 26th. They set an "outperform" rating and a $50.00 price target on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Neurogene in a research report on Thursday, January 22nd. HC Wainwright reiterated a "buy" rating and set a $70.00 price target on shares of Neurogene in a report on Tuesday, January 13th. Finally, Wall Street Zen lowered Neurogene from a "hold" rating to a "sell" rating in a research report on Saturday, December 13th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $66.67.

Neurogene Trading Up 1.8%

Shares of Neurogene stock traded up $0.38 on Monday, reaching $21.07. 17,542 shares of the company were exchanged, compared to its average volume of 164,034. The stock has a fifty day moving average price of $19.75 and a 200-day moving average price of $21.77. The firm has a market capitalization of $328.01 million, a price-to-earnings ratio of -4.98 and a beta of 1.56. Neurogene has a fifty-two week low of $6.88 and a fifty-two week high of $37.27.

Neurogene (NASDAQ:NGNE - Get Free Report) last released its quarterly earnings results on Tuesday, March 24th. The company reported ($1.12) earnings per share for the quarter, beating analysts' consensus estimates of ($1.20) by $0.08. On average, equities analysts anticipate that Neurogene will post -4.27 earnings per share for the current fiscal year.

Insider Transactions at Neurogene

In other news, CFO Christine Mikail Cvijic sold 4,045 shares of Neurogene stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $20.81, for a total transaction of $84,176.45. Following the completion of the sale, the chief financial officer directly owned 105,798 shares in the company, valued at $2,201,656.38. The trade was a 3.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stuart Cobb sold 6,797 shares of the business's stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $20.81, for a total value of $141,445.57. Following the completion of the sale, the insider directly owned 30,497 shares of the company's stock, valued at approximately $634,642.57. The trade was a 18.23% decrease in their position. The SEC filing for this sale provides additional information. 11.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Balyasny Asset Management L.P. acquired a new stake in shares of Neurogene in the 3rd quarter valued at $12,114,000. ArrowMark Colorado Holdings LLC lifted its position in shares of Neurogene by 1.8% in the third quarter. ArrowMark Colorado Holdings LLC now owns 595,839 shares of the company's stock worth $10,326,000 after buying an additional 10,442 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Neurogene by 35.3% during the 4th quarter. Jennison Associates LLC now owns 533,088 shares of the company's stock worth $10,982,000 after acquiring an additional 138,999 shares in the last quarter. State Street Corp increased its holdings in shares of Neurogene by 47.8% during the 4th quarter. State Street Corp now owns 307,797 shares of the company's stock valued at $6,341,000 after acquiring an additional 99,487 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Neurogene by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 249,695 shares of the company's stock valued at $5,145,000 after acquiring an additional 3,262 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company's stock.

About Neurogene

Neurogene, Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies for rare neurological diseases. The company's lead platform employs adeno‐associated virus (AAV) vectors designed to deliver functional copies of disease-causing genes directly to the central nervous system. Neurogene's pipeline focuses on inherited lysosomal storage disorders, including investigational programs for GM1 and GM2 gangliosidoses, with additional preclinical efforts targeting other monogenic neurodegenerative conditions.

Neurogene's proprietary AAV9‐based delivery system has been engineered to cross the blood-brain barrier, aiming to provide durable gene expression in affected tissues.

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